Sanctions against Turkey will insignificantly affect inflation - the Bank of Russia

UFA, 4 December 2015. /Bashinform News Agency, Ksenia Kalinina/. According to the Bank of Russia, until the end of the year — at the beginning of 2016 may be a slight rise in inflation — in the range of 0.2-0.4 percentage points. The impact of the embargo on the medium-term inflation outlook will be negligible. Significant influence of the restrictive measures on the balance of payments and GDP rate is not expected too.

According to the press service of the Central Bank, the share of Turkish products in the markets of certain food products prohibited for import is noticeable. However, suppliers have time to change the geography of deliveries. Also, much will depend on the organization of alternative supplies of products came under sanctions.

On November 30, the Russian Prime Minister Dmitry Medvedev approved a list of Turkish agricultural products, raw materials and food, which are prohibited for import to Russia from January 1, 2016.